Professional Credentials—
What Are Your Options
Valerie Wendt, Bisk CPA Review & Veronica Johnson, IIA
Many Credentials/Certificates
- More than adding
alphabet soup to
your name!
- Strengthens the
confidence others
have in you
- Tells others your
abilities have met a
higher standard
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Many Credentials/Certificates
- Common Professional Designations
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CPA
CGMA
CMA
CIA
CFE
CFP
CFA
CISA
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CPA
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“Gold Standard” in Accounting Profession
 Passed the Uniform CPA Exam
• 4 parts (Auditing & Attestation, Business
Environment & Concepts, Regulation, and
Financial Accounting & Reporting)
• Parts can be taken 1 at a time; must pass all
4 parts within 18 months
• Testing done at Prometic Testing Centers
• First 2 months of a calendar quarter
• Apply through your State Board of
Accountancy or NASBA
www.aicpa.org/BecomeACPA/Pages/BecomeaCPA.aspx
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CPA
- Where can the CPA credential take you?
 Traditional Roles
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Partner – Accounting Firm
CFO – Industry
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CPA
- Where can the CPA credential take you?
 Unique Roles
• International Accounting
• Academics
• Sports Teams
• FBI as a Forensic Accountant (White
Collar Crime – Embezzlement, Securities
Fraud, Tax Evasion or Money-Laundering)
• CPA “Geek” – Design, Integrate &
Implement Hardware & Software Systems
• Go Green – Environmental Accountant
• Hollywood – Accountant to the “stars”
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CGMA
- Chartered Global Management
Accountant – currently 38,000 members
- Joint venture between AICPA & CIMA
- Globally Recognized
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Recognizes your experience & skills globally
Showcases your value around the world
- Complements your CPA Credential
- Experience Requirement (2-3 years)
www.aicpa.org/membership/pages/cgma-designation.aspx
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CGMA
 Where can the CGMA designation take
you?
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Business Strategist
Board of Director
Chairman
CEO
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CMA
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Certified Management Accountant
Regulated by the Institute of Management
Accountants (IMA)
Two-part Exam
- Financial Planning, Performance & Control
- Financial Decision Making
Globally Recognized
- Recognizes your experience & skills globally
- Showcases your value around the world
Complements your CPA Credential
Experience Requirement
www.imanet.org
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CMA
 Where can the CMA designation take you?
 Financial Manager in industries such as:
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Utilities & Energy
Manufacturing
Agriculture & Forestry
Entertainment
Public Administration
Mining
Retail
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CIA
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Certified Internal Auditor – Recognized Globally
Awarded by the Institute of Internal Auditors
Students may sit prior to graduation
2-year professional experience to receive
designation
Three-part Exam (as of 2013)
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Part 1 – Internal Audit Basics
Part 2 – Internal Audit Practice
Part 3 – Internal Audit Knowledge Elements
www.theiia.org
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CIA
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Exam (Part 1) – 125 questions over 150
minutes
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Mandatory Guidance (35-45%)
Internal Control (25-35%)
Conducting Internal Audit Engagements – Audit
Tools and Techniques (25-35%)
Exam (Part 2) – 100 questions over 120
minutes
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Managing the Internal Audit Function (40-50%)
Managing Individual Engagements (40-50%)
Fraud Risks and Controls (5-15%)
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CIA
- Exam (Part 3) – 100 questions over 120
minutes
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Governance/Business Ethics (5-15%)
Risk Management (10-20%)
Organizational Structure/Business Processes &
Risks (15-25%)
Communication (5-10%)
Management/Leadership Principles (10-20%)
IT/Business Continuity (15-25%)
Financial Management (10-20%)
Global Business Environment (0-10%)
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CIA
 Where can the CIA designation take you?
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All levels of Internal Auditor (staff to CAE)
Middle Management
CFO
C - suite (even CEO)
Audit Committees of other organizations
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CFE
- Certified Fraud Examiner
- Governed by The Association of Certified
Fraud Examiners (ACFE)
- Emerging as the “gold standard” in the
area of fraud detection & mitigation
- International credential demonstrating
expertise in fraud prevention, detection &
deterrence
www.acfe.com
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CFE
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Bachelor’s Degree or 8 years of fraud-related
experience
2 Years of professional experience
Computer-based exam
4 Sections – 10 hours
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CFE
 Where can the CFE designation take
you?
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CFEs earn 22% over those without the
credential
Forensic Accountant
IRS Agent
External Auditor
Management Accountant
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CFP
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Certified Financial Planner
Governing Body – CFP Board of Standards
Requirements
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4 Es (Education, Examination, Experience, Ethics)
Candidates must complete extensive course of study
in financial planning
Pass a comprehensive exam
Show experience in financial planning
Adhere to a code of ethical conduct
2 Day Exam – Paper & Pencil
www.cfp.net
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CFP
 Where can the CFP certification take
you?
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Financial Planning Career Path – expected
to grow 41% by 2016
Banking
Brokerage Houses
Insurance
Financial Planning Firms
Consultant
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CFA
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Chartered Financial Analyst
“Gold Standard” in Investment Industry
Internationally recognized
Governed by the CFA Institute
CFA Exam comprised of 3 levels
Requirements
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4 years of qualified investment work experience
Pass all 3 levels of the CFA Exam
Hold a bachelor’s degree or be in the final year
Become a member of the CFA Institute
www.cfainstitute.org
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CFA
 CFA Exam – Topical Outline
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Ethical & Professional Standards
Investment Tools
Corporate Finance
Economics
Financial Reporting & Analysis
Quantitative Methods
Asset Classes
Alternative Investments
Derivatives
Equity Investments
Fixed Income
Portfolio Management & Wealth Planning
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CFA
 Where can the CFA designation take
you?
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Portfolio Manager
Research Analysts
Chief Executives
Risk Managers
Financial Advisors
And More…
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CISA
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Certified Information Systems Auditor
Granted by Information Systems Audit and
Control Association
2nd Most Sought After Credential – after the
CPA
Globally accepted standard of achievement
5 year experience requirement
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substitutions & waivers possible
Pass an exam administered every June,
September (limited sites) & December
www.isaca.org
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CISA
 Benefits of CISA
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Shows potential employers your knowledge
of information security
Ability to access valuable resources
Career differentiator
And more…
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CISA
 Five Domain Exam
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Domain 1 – The Process of Auditing Information
Systems
Domain 2 – Governance & Management of IT
Domain 3 – Information System Acquisition,
Development & Implementation
Domain 4 – Information Systems Operations,
Maintenance and Support
Domain 5 – Protection of Information Assets
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CISA
 Where can the CISA designation take
you?
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IT Auditor
Systems Analyst
IT Operations Positions
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Beneficial Websites
CPA – www.aicpa.org/BecomeACPA/Pages/BecomeaCPA.aspx
CGMA - www.aicpa.org/membership/pages/cgma-designation.aspx
CMA – www.imanet.org
CIA - www.theiia.org
CFE - www.acfe.com
CFP - www.cfp.net
CFA - www.cfainstitute.org
CISA - www.isaca.org
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